Net Income Per Common Unit

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Net Income Per Common Unit

(11) Net Income Per Common Unit

The net income per unit figures on the Consolidated Statement of Operations are based on the net income of the Partnership after the closing of the Initial Public Offering on April 13, 2011, since this is the amount of net income that is attributable to the common units.

The Partnership's net income is allocated wholly to the common unitholders as the general partner does not have an economic interest. Basic and diluted net income per common unitholder is calculated by dividing net income by the weighted-average number of common units outstanding during the period and, when applicable, gives effect to phantom units and unvested common units granted under the CVR Partners LTIP. The common units issued during the period are included on a weighted-average basis for the days in which they were outstanding.

The following table illustrates the Partnership's calculation of net income per common unitholder (in thousands, except per unit information):

					April 13, 2011
	Year Ended		Year Ended		to
	December 31, 2013		December 31, 2012		December 31, 2011
Net income	$	118,616	$	112,223	$	108,351
Net income per common unit, basic	$	1.62	$	1.54	$	1.48
Net income per common unit, diluted	$	1.62	$	1.53	$	1.48
Weighted-average common units outstanding, basic	73,072		73,039		73,008
Weighted-average common units outstanding, diluted	73,228		73,193		73,073

The Partnership has omitted net income per unit data prior to April 13, 2011, as the Partnership operated under a different capital structure prior to the closing of the Initial Public Offering; therefore, the per unit information is not meaningful to investors.